ING Real Estate today launched its first continental European property fund of funds
The Eurosiris fund, which has an initial target size of E1bn (£667m), has been designed to give UK investors improved access to property markets in continental Europe via a range of indirect property funds.
The 10-year fund is targeting a minimum total return of 8% a year. It will invest in all property sectors and will be managed by ING Real Estate Select - the global multi-manager business division of ING Real Estate.
Nick Cooper, global chief executive, ING Real Estate Select, said: ‘UK demand to add continental European investment to their portfolio makes the new Eurosiris Fund a very compelling investment choice. We have a very strong heritage in continental Europe and our local market knowledge from our extensive locally based, in-house research and forecasting experts and investment management presence is unmatched.’
According to research published at its annual investment seminar this week, ING Real Estate Investment Management identified that 65% of UK investors are seeking continental European investment, a 30% increase from last year.